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In early trade, gold and silver prices fall

22 Nov 2022 , 11:45 AM

Tuesday’s early trade saw a decline in the price of gold and silver, with ten grams of 24-karat yellow metal trading for Rs 52,920 after dropping by Rs 100. Silver prices decreased by Rs 400 from yesterday’s closing, selling for Rs 60,600 for 1 kilogram.
Today’s price for ten grams of 22-carat gold is Rs 48,500, according to the GoodReturns website. Ten grams of 24-karat and 22-karat gold are selling for Rs 52,920 and Rs 48,500, respectively, in Mumbai, Kolkata, and Hyderabad. Gold in Delhi sells Rs 53,070 for 24 karat and Rs 48,700 for 22 karats. Gold prices in Chennai are Rs. 53,670 (24-carat) and Rs. 49,200. (22-carat).

Tuesday saw gold prices rise as the dollar weakened, and investors turned their attention to the minutes from the most recent meeting of the US Federal Reserve for guidance on potential rate increases. As of 02:15 GMT, spot gold was up 0.3%, or $1,743.07 per ounce. US gold futures increased 0.3% to $1,744.50.
Although gold is regarded as a hedge against inflation, high-interest rates deter investment in non-yielding bullion. One kilogram of silver costs Rs 60,600 in Delhi, Mumbai, and Kolkata. The price of the metal per kg is Rs 66,500 in Chennai, Bengaluru, and Hyderabad.

For feedback and suggestions, write to us at editorial@iifl.com

Related Tags

  • Bangalore
  • Chennai
  • commodities
  • gold
  • Gold futures
  • Mumbai
  • Silver
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